The rewards to meeting or beating earnings expectations

  title={The rewards to meeting or beating earnings expectations},
  author={Eli Bartova and Dan Givolyb and Carla Haync},
  • Eli Bartova, Dan Givolyb, Carla Haync
  • Published 2000
This paper finds that firms that meet or beat current analysts’ earnings expectations (MBE) enjoy a higher return over the quarter than firms with similar quarterly earnings forecast errors that fail to meet these expectations. Further, such a premium to MBE, although somewhat smaller, exists in the cases where MBE is likely to have been achieved through earnings or expectations management. The findings also indicate that the premium to MBE is a leading indicator of future performance. This… CONTINUE READING
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